Removing name from deed

[bobo60]

What is the name of your state (only U.S. law)? NC
Hello,
How difficult is it, to have a name removed from a deed to a house, that still has a mortgage? My girl friend and I, both purchased a house, and we are both listed on the deed as "borrowers". We have had the mortgage with the current bank since 4/2010. We never missed a payment, if that matters? Is this possible? Are there any costs? Can it be done anytime?

Bob

 

[Just Blue]

Px Hx.
,,,,,,

 

[Just Blue]

What is the name of your state (only U.S. law)? NC
Hello,
How difficult is it, to have a name removed from a deed to a house, that still has a mortgage? My girl friend and I, both purchased a house, and we are both listed on the deed as "borrowers". We have had the mortgage with the current bank since 4/2010. We never missed a payment, if that matters? Is this possible? Are there any costs? Can it be done anytime?

Bob

I really think you should take all the paperwork and your payment history to an attorney. Based on what you, for YEARS, have posted on this site....

 

[bobo60]

I really think you should take all the paperwork and your payment history to an attorney. Based on what you, for YEARS, have posted on this site....

What is that supposed to mean? You people here to help, or insult people??????? I'm just trying to get all the info I can. Were any of you ever lawyers? Maybe I have the wrong site. " Based on what I have posted here for YEARS???" Saying something like that is just being a wiseass!

 

[OK-LL]

What is the name of your state (only U.S. law)? NC
Hello,
How difficult is it, to have a name removed from a deed to a house, that still has a mortgage? My girl friend and I, both purchased a house, and we are both listed on the deed as "borrowers". We have had the mortgage with the current bank since 4/2010. We never missed a payment, if that matters? Is this possible? Are there any costs? Can it be done anytime?

Bob

It is a simple thing to remove your name from the deed; you simply deed your interest to another party, such as the person you currently share title with. This does not remove you from the mortgage & promissory note however, and it would be a poorly thought out move to give up all interest in the property while you still remain responsible for the debt.

 

[bobo60]

: Removing name from deed

It is a simple thing to remove your name from the deed; you simply deed your interest to another party, such as the person you currently share title with. This does not remove you from the mortgage & promissory note however, and it would be a poorly thought out move to give up all interest in the property while you still remain responsible for the debt.

Ok. So if someone tried to put a lien against the house, even tho my name was no longer on the deed, they can do so, because my name will still be on the mortgage or note? The only way someone could not put a lien against the house, for a debt I owe, is if my name was NOT on the mortgage? I don't have any money, and I have a debt management company working on this, but if they cant stop a lien, I need to find help, and I know everybody says, "get a lawyer" but lawyers don't work for free either. Just trying to save my house. I never disputed owing the money to my creditors (credit cards), just trying to dig my way out, with limited funds to work with. Not trying to scam anyone. That's why I get so upset, when some people on the forum make unkind remarks about my posts.

Bob

 

[OK-LL]

Ok. So if someone tried to put a lien against the house, even tho my name was no longer on the deed, they can do so, because my name will still be on the mortgage or note? The only way someone could not put a lien against the house, for a debt I owe, is if my name was NOT on the mortgage? I don't have any money, and I have a debt management company working on this, but if they cant stop a lien, I need to find help, and I know everybody says, "get a lawyer" but lawyers don't work for free either. Just trying to save my house. I never disputed owing the money to my creditors (credit cards), just trying to dig my way out, with limited funds to work with. Not trying to scam anyone. That's why I get so upset, when some people on the forum make unkind remarks about my posts.

Bob

If you no longer have an ownership interest in the house, a judgment lien would not be effective against the house. On the other hand, if the debt is for goods supplied to the house (a new HAC system, for instance) a materialman's lien can be placed against the house whether you are the owner or not. An HOA lien can also be placed against the house whether you own it or not, since that type of debt follows the property and the person. What type of lien do you expect to be levied against you or the house? And generally, unless it is mortgage debt, a lien against your home will not result in a creditor taking your home because your state law offers protection (to some degree) from seizure of your homestead. There's quite a lot of moveable parts to this type of problem; you wold need to provide greater detail for a more specific response.

 

[Zigner]

If the deed is changed, then the mortgage company may very well just consider the mortgage due in full at that time.

 

[FlyingRon]

If the deed is changed, then the mortgage company may very well just consider the mortgage due in full at that time.

Yep, girlfriends aren't the same as wives, and even if they were, marriages are easier to get out of then mortgages.

 

[bobo60]

If you no longer have an ownership interest in the house, a judgment lien would not be effective against the house. On the other hand, if the debt is for goods supplied to the house (a new HAC system, for instance) a materialman's lien can be placed against the house whether you are the owner or not. An HOA lien can also be placed against the house whether you own it or not, since that type of debt follows the property and the person. What type of lien do you expect to be levied against you or the house? And generally, unless it is mortgage debt, a lien against your home will not result in a creditor taking your home because your state law offers protection (to some degree) from seizure of your homestead. There's quite a lot of moveable parts to this type of problem; you wold need to provide greater detail for a more specific response.

I owe $3500.00 to a credit card company. I do owe the money. Im working with a debt management company, to help pay off my debts. The debt management company has settled one credit card debt, paid in full. Im paying off a 2nd debt settlement now. Another credit card company is threating to take legal action, and if they do, the debt management company will file a Pro Se Answer, like they did with another creditor, for my response. I asked the DMC, what happens if this or any creditor, get as far as being able to place a lien against my house. They said that more than likely, that will not happen, and to just hang in there. I understand, that they are not a lawyer firm, and I think if this escalates to a court, they wont be able to help me. What scares me, is if a lien is put against the house, which I still owe a mortgage on, wouldn't the lender of the mortgage, call the loan? My name and my girl friends name are on the mortgage and deed. I do agree with the folks on here that I need a lawyer, but, I would need a lawyer that would work with me, as far as paying for his/her service. I am tapped out. I used the credit cards for basic things, like groceries, gas, ALOT on medical bills and copays, and a few odds and ends. didn't use them for appliances, or any repairs on the house.

 

[Zigner]

I owe $3500.00 to a credit card company. I do owe the money. Im working with a debt management company, to help pay off my debts. The debt management company has settled one credit card debt, paid in full. Im paying off a 2nd debt settlement now. Another credit card company is threating to take legal action, and if they do, the debt management company will file a Pro Se Answer, like they did with another creditor, for my response. I asked the DMC, what happens if this or any creditor, get as far as being able to place a lien against my house. They said that more than likely, that will not happen, and to just hang in there. I understand, that they are not a lawyer firm, and I think if this escalates to a court, they wont be able to help me. What scares me, is if a lien is put against the house, which I still owe a mortgage on, wouldn't the lender of the mortgage, call the loan? My name and my girl friends name are on the mortgage and deed. I do agree with the folks on here that I need a lawyer, but, I would need a lawyer that would work with me, as far as paying for his/her service. I am tapped out. I used the credit cards for basic things, like groceries, gas, ALOT on medical bills and copays, and a few odds and ends. didn't use them for appliances, or any repairs on the house.

Your attempt to conceal assets in the face of pending legal action would not be successful.

 

[bobo60]

Your attempt to conceal assets in the face of pending legal action would not be successful.

I kind of figured as much. I got in touch with NC Legal Aid today. They took my info, and told me to continue working to pay my debts thru the debt management company, and a lawyer will call me within a week, to discuss my situation. Thanks for all your help with this matter...Bob